Melt coconut oil in microwave for 20 seconds (or more if needed) and stir well. You want it melted and slightly warm, but not hot.
In a small bowl, whisk PB2 and water until thickened.
Add oil, honey and cocoa powder and beat with a hand mixer until smooth and creamy. If your fudge ends up with a white film or streaks, you didn't have the oil warm enough or it was not blended sufficiently.
Pour into muffin pan lined with foil liners. It should make about ten servings about 1/2 inch per muffin liner.
I spread mine into a small 4 x 9 oval glass dish and cut into pieces as needed.
Place in freezer for ten minutes and enjoy! Store leftovers in the refrigerator. If you are not eating right away you can just put in the refrigerator and it will be ready in 30-40 minutes.